ZOFF Foods raises $2mn in Pre-Series B round led by JM Financial.
Funds will strengthen offline distribution, marketing, sales and omnichannel expansion across India.
Brand targets quick commerce growth and wider presence through general trade network.
Raipur-based spice brand ZOFF Foods announced on March 10 that it has raised $2mn in a Pre-Series B funding round. The investment was led by existing investor JM Financial Private Equity through its JM Financial India Growth Fund III, with participation from Aman Gupta, Co-Founder of boAt. This transaction marks the second round of investment for the company, following a recent Series A round also backed by JM Financial.
2 March 2026
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Next Phase of Growth
Its current portfolio includes whole and blended spices, masalas, dry fruits, seasonings and convenience products such as 5-minute gravies and 1-minute marinade mixes. These products are available in major retail chains like DMart and Reliance, as well as through more than 30,000 general trade stores nationwide.
Vinit Rai, Managing Director of JM Financial Private Equity, stated in the news release that the partnership is intended to accelerate national expansion and establish ZOFF as a leading FMCG brand.
Akash Agrawalla, Co-Founder, ZOFF Foods, added in the news release, “This funding marks a key milestone in our journey as we transition into a rapidly scaling brand. As the spices category shifts towards organised, quality-led players, we believe we are well-positioned to lead this transformation. The fresh capital will help us accelerate our offline expansion, strengthen our distribution and continue driving innovation. With a significant share of our business coming from quick commerce and general trade, our focus remains on getting even closer to consumers across markets.”
ZOFF Foods aims to further expand its product offerings in blended spices and allied food categories. Co-founder Ashish Agrawal indicated that the company is now positioned to enter its next phase of growth to reach households across the country
The fresh capital is earmarked to strengthen offline distribution, marketing and sales functions. Operated by Asquare Foods & Beverages Pvt Ltd, ZOFF Foods plans to accelerate its omnichannel expansion across India. A primary objective of this funding is to scale the brand's presence on quick commerce platforms and deepen market penetration through its General Trade network.
The company has established a market position based on hygiene-led processing, in-house manufacturing and premium packaging. It was the first brand in the Indian spice category to introduce cool grinding technology and zip-lock packaging to preserve product purity and freshness.
